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Whether buying a townhouse or selling a country cottage, leasing corporate office space or renting farmland, our experts make it their business to understand your needs and help you find the right property.

Preliminary results for the year ended 31 December 2018

Founded in the UK in 1855, Savills is one of the world's leading property agents. Our experience and expertise spans the globe, with 600 offices across the Americas, Europe, Asia Pacific, Africa and the Middle East.

At Savills, our most valuable resource is our people. We are known for our positive, entrepreneurial culture, and for attracting some of the most innovative, dedicated and knowledgeable people in the business.

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Spotlight: Monaco Residential Market

High demand for prime property meets with low supply in an extremely limited land area

Monaco continues to be an exceptionally attractive location for the global wealthy and has all the key ingredients for real estate price growth.

A very strong local economy employs more people than can be physically accommodated within the city state. High demand for both residential and commercial space meets with low supply in an extremely limited land area.

Monaco’s residential property market may be very valuable but it is also very small. Transaction numbers topped only 547 in 2015 but, even then, this represented less than 4% of private housing stock numbers in Monaco. On average, since 2006, less than 3% of private stock has traded each year, meaning that the average Monégasque home changes hands only once every 37 years. This compared to prime London properties, for example, where the norm is nearer once every 20 years.

Against this low annual supply of resale properties, new builds in Monaco are a drop in the ocean. A mere 3.5% of transactions between 2010 and 2015 were newly built apartments. Only a handful of new apartments are earmarked for delivery in 2016 so the supply shortage will appear even more pronounced.

While delivery is anticipated to increase after 2017, we anticipate that it will still add no more than an average of 0.4% a year to stock and will be inadequate to subdue the market by saturating latent demand.